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Financial sales representatives

OaSIS code 63102.00

Financial sales representatives sell basic deposit, investment and loan products and services to individuals and businesses.

Overview

Also known as

  • Credit officer
  • Financial services officer
  • Financial services representative
  • Loan officer
  • Mortgage officer
  • Sales associate - personal banking

Main duties

This group performs some or all of the following duties:

  • Open new personal and non-personal accounts, and provide access to automated banking machine, telephone banking and online banking services
  • Interview applicants for personal, mortgage, student and business loans
  • Promote the sale of deposit, investment, credit and loan products and services
  • Assist clients by proposing solutions to address financial objectives such as business expansion, debt management, investment and other financial goals
  • Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan
  • Complete credit and loan documentation
  • Submit credit and loan applications to branch or credit manager with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected
  • Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action
  • Review and update credit and loan files
  • Act as joint custodian for cash and securities.

Additional information

  • Progression to credit and loan management positions is possible with experience.
  • Progression to higher levels of financial planning and wealth management is possible with experience.

Similar occupations classified elsewhere

Exclusions:

  • Other financial officers (11109)
  • Banking, insurance and other financial clerks (14201)
  • Customer services representatives - financial institutions (64400)
  • Loan and credit manager - banking or trust company (in 10021.01 Banking and other investment managers)

NOC hierarchy breakdown

NOC version

NOC 2021 Version 1.0

Broad occupational category

6 – Sales and service occupations

TEER

3 – Occupations usually require a college diploma or apprenticeship training of less than two years; or more than six months of on-the-job training

Major group

63 – Occupations in sales and services

Sub-major group

631 – Occupations in sales

Minor group

6310 – Insurance, real estate and financial sales occupations

Unit group

63102 – Financial sales representatives

Occupational profile

63102.00 – Financial sales representatives

Work characteristics

Work characteristics gathers the various components describing the work environment of each occupation, such as employers, work activities, and the work context. Each category displays up to 10 descriptors in descending order based, firstly, on their attributed ratings by the level of complexity (for Work Activities) or other measurement dimensions (for Work Context), and secondly, in alphabetical order. The whole list of descriptors and their ratings can be expanded at the bottom of each page.

Work Activities

Proficiency or complexity level
Selling or Influencing Others
5 - Highest Level
Coaching and Developing Others
4 - High Level
Communicating with Persons Outside Organization
4 - High Level
Establishing and Maintaining Interpersonal Relationships
4 - High Level
Evaluating Information to Determine Compliance
4 - High Level

Work Context

Structural Job Characteristics

Structured versus Unstructured Work
Degree of freedom to determine tasks and priorities
4 - High amount of freedom
Work Week Duration
Worked hours in a typical week
2 - Between 35 to 40 hours

Physical Work Environment

Physical Proximity
Physical distance from others
3 - Somewhat close (e.g. share office)

Physical Demands

Sitting
Duration
4 - More than half the time
Standing
Duration
1 - Very little time
Bending or Twisting the Body
Duration
1 - Very little time

Interpersonal Relations

Contact with Others
Frequency
5 - Every day, almost continuously
Duration
5 - All the time, or almost all the time
Work with Work Group or Team
Importance
3 - Important
Frequency
3 - Once a week or more but not every day

Workplaces/employers

  • Banks
  • Credit unions
  • Financial institutions
  • Trust companies

Skills and abilities

This section displays the various competencies required for an occupation. Each category displays up to 10 descriptors in descending order based, firstly, on their attributed ratings by the level of proficiency (for Skills and Abilities) or importance (for Personal Attributes) and secondly, in alphabetical order. The whole list of descriptors and their ratings can be expanded at the bottom of each page.

Abilities

Proficiency or complexity level
Deductive Reasoning
4 - High Level
Speech Recognition
4 - High Level
Verbal Ability
4 - High Level
Categorization Flexibility
3 - Moderate Level
Fluency of Ideas
3 - Moderate Level

Skills

Proficiency or complexity level
Monitoring
4 - High Level
Persuading
4 - High Level
Critical Thinking
3 - Moderate Level
Decision Making
3 - Moderate Level
Digital Literacy
3 - Moderate Level

Personal Attributes

Importance
Attention to Detail
5 - Extremely important
Active Learning
4 - Highly important
Adaptability
4 - Highly important
Analytical Thinking
4 - Highly important
Collaboration
4 - Highly important